Gateshead, 5 June 2015 – Commvia, the e-commerce system specialist technology company based in Gateshead, is pleased to confirm that it has entered into a long term joint venture contract with Venture Stream, the Newcastle-based digital marketing and e-commerce specialist agency.
The deal sees Venture Stream taking an equity stake in Commvia allowing the enlarged business to recruit extra staff and provide a wider range of e-commerce technology services to Venture Stream and Commvia’s wider client list.
Andy Redfern, managing director of Commvia, commented “This is the natural next step for our working relationship. Having supported Venture Stream clients for over a year, this joint venture agreement commits the businesses to work together for the foreseeable future. Additionally, Venture Stream’s input at a board level will help Commvia grow its client base and strengthen its product offering.”
Under the new joint venture, Vic Morgan will assume a non-Executive Director role to help further develop Commvia as Venture Stream’s e-commerce technology arm and to become a wider force as an e-commerce technology supplier. Commvia has invested heavily in its own intellectual property including a post code data services engine prototyped as www.askthepigeon.com and a proprietary e-commerce integration system linking major online shop platforms (e.g., Magento, Shopify) with marketing systems and 3 rd party fulfilment services called Hubster www.hubster.info.
Morgan commented “I am thrilled to complete this joint venture with one of our closest business partners. Building on our innovative business model and sector expertise and passion, I see Venture Stream helping play a leadership role in creating an e-commerce talent and innovation hub in the North East of England.”
Commvia was found in 2014 by Andy Redfern and draws on many years of e-commerce and retail experience. He was the co-founder of EthicalSuperstore.com, which is now a profitable online business owned by the Spark Ecommerce Group. He is an accomplished programmer and skilled systems analyst with a pragmatic flare for getting the job done on time and on budget.
Venture Stream was founded in 2012 by experienced e-commerce entrepreneur Vic Morgan, and received start-up funding from Northstar Ventures and Rivers Capital. Venture Stream is led by an experienced management team including Digital Director Marty Hayes, Creative Director Andy Robinson, and Business Development Director James Chapman who together with Mr. Morgan have built a rapidly growing business with a diverse client base ranging from startups to multi-national businesses – examples of other clients include Barbour, Planet Organic, Yogamatters, and Frugi Organic Clothes.